Permanent TSB has become the latest bank to raise interest on fixed rate mortgages and deposit rates.
The bank said the changes are due to the interest rate increases from the European Central Bank in recent months and follows recent announcements of increased interest rates by AIB and Bank of Ireland. Permanent TSB’s increases will range from 0.05% to 0.9% depending on the length of the fixed term, the size of the loan and the size of the loan relative to the value of the property in question.
They said there will be no changes for customers on existing fixed rates and there are no changes to the bank’s variable rates for new or existing customers.
Read more: People choosing to borrow less than they could with mortgages to reduce payments
A Permanent TSB spokesman said: “For any customer applying for a mortgage over €250,000 the increases range from 0.05 per cent to a maximum of 0.45 per cent. We are seeking to balance the reality of the increased interest rate environment with the need to provide a competitive offering to our mortgage customers and to provide certainty, in particular, to those customers who are already advanced on their mortgage journey.
He said the bank recognised the need to re-commence increasing deposit rates for savers and they were “pleased to start this today by introducing increases to our Regular Saver and Fixed Term deposit accounts.” The bank will raise interest rates payable on certain deposits from 0.2 per cent.
Some other non-bank lenders including Avant, Finance Ireland and ICS have also increased their rates in recent weeks.
Read next:
Dublin property prices keep rising with most expensive Eircode in the capital
Government approves plan for new national 'living wage' in 2026
AIB to increase rates on fixed mortgages as homeowners could fork out extra €300
Sign up to the Dublin Live Newsletter to get all the latest Dublin news straight to your inbox.
